By Jesse Newman

CHICAGO--U.S. grain futures slipped in early trading Friday amid expectations for abundant world output of crops like corn and wheat. Soybeans were mixed.

Corn prices eased after hitting the highest level in more than 10 months in the previous session, buffeted in part by forecasts for larger global grain production in the coming season. The London-based International Grains Council on Thursday raised its projection for grain output in 2016-17 to 2.015 billion tons, which is 10 million metric tons higher than the council's previous estimate.

The council raised its corn forecast by 5 million tons to 1.003 billion tons, on an improved outlook for crops in the U.S. and Argentina.

Corn futures for July declined 1/2 cent, or 0.1%, to $4.07 3/4 a bushel at the Chicago Board of Trade.

CBOT July wheat shed 1/2 cent, or 0.1%, to $4.80 3/4 a bushel.

CBOT July soybeans slipped 1/4 cent, or 0.02%, to $10.79 1/2 a bushel. August futures added 1/2 cent, or 0.1%, to $10.77 3/4 a bushel.

-Ed Ballard contributed to this article.

Write to Jesse Newman at jesse.newman@wsj.com

(END) Dow Jones Newswires

May 27, 2016 09:50 ET (13:50 GMT)